Geothermal resources are widely distributed in Jiyang Depression, with great potential. They would be essential directions for the development and utilization of geothermal resources of Shengli Oilfield in the future. The geothermal geological conditions were systematically sorted out, such as thermal reservoir, thermal cover, and heat source of hydrothermal geothermal resources and geothermal resources of dry-hot rocks in Jiyang Depression, and the amounts of two types of geothermal resources were calculated respectively to reveal their geothermal resource potential to develop and utilize geothermal resources in Jiyang Depression scientifically and efficiently,. The results show that hydrothermal geothermal resources in Jiyang Depression are mainly deposited in the Guantao Formation, Dongying Formation, and Lower Paleozoic strata. Among them, Guantao Formation is the strata with the largest potential for hydrothermal geothermal resources, featuring a wide distribution and massive resources. It is the critical stratum for exploration and utilization in the next step. Jiyang Depression is a sedimentary basin with a cold crust and hot mantle and has a high geothermal flow value. The thermal reservoirs in the geothermal resources of dry-hot rocks are mainly magmatic rocks and metamorphic rocks of the Archean. The heat flow in the deep mantle is the main heat source. The distribution area of thermal reservoirs is large and has high temperatures, and the resources are primarily distributed in Bohai Bay Basin. Geothermal resources are rich in Jiyang Depression. It is suggested that the relationship between hydrothermal geothermal resources and oil and gas, as well as the evaluation of resource zoning, should be strengthened to accelerate the development and utilization of geothermal resources. The exploration and development of geothermal resources of dry-hot rock is still in the initial stage. Research on the selection of thermal reservoir types and heat source mechanisms should be strengthened in the future.